The Financial Supervisory Authority of Norway has completed its evaluation of SpareBank 1 SMN's capital adequacy process - SREP - for 2016. The Pillar 2 requirement for SpareBank 1 SMN stands at 2.1 % of the risk-weighted balance.
The Pillar 2 requirement is connected to risk factors not captured by the Pillar 1 requirements, and must therefore be covered by common equity tier 1.
The requirement for CET1 for SpareBank 1 SMN after this announcement will be 13.6 % at the end of 2016. SpareBank 1 SMN had a CET1 ratio of 14.3 % at the end of September 2016. SpareBank 1 SMN therefore considers itself to be well within the regulatory requirements in relation to capital adequacy.
This information is disclosed in compliance with section 5-12 of the Securities Trading Act.
Trondheim, Norway, 30 November 2016
Contact persons in SpareBank 1 SMN:
Kjell Fordal, CFO. Tel. +47 905 41 672
Ola Neråsen, CRO. Tel. +47 918 09 722
Hans Tronstad, Director of communications. Tel. +47 941 78 322
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SpareBank 1 SMN via Globenewswire